P NC 5.25: Redemption: 2023-04-30; Registration: Reg S Only; Comments: USD500m (upsized from USD300m) PNC5.25 AT1 RegS. Follows rshow. UBS(struct/B&D)/Alfa. IPTs 7% area, guidance 7% (+/-5 WPIR) , launched 500m @6.95%, bks were @800m ahead of close. initial/reset margin T+457.2. Tax Call: No. PP: No. XD: No;